Latest Key Developments (Source: Significant Developments)

March 20 (Reuters) - FDG Electric Vehicles Ltd <0729.HK>::CO AND ITS UNIT CHANJE ENERGY ENTERED INTO LOI TO DISPOSE 94.7% IN CHANJE TO J. STREICHER HOLDINGS.DEAL FOR US$260 MILLION, 10% EQUITY STAKE IN SPV SET UP BY PURCHASER, AMONG OTHERS.
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March 10 (Reuters) - FDG Electric Vehicles Ltd <0729.HK>::BOARD HAS CONDUCTED INVESTIGATIONS ON SHANXI PLACING.CAME TO BOARD'S ATTENTION THAT A DIRECTOR HAD BEEN CONSPIRING WITH JINGANG GROUP INVESTMENT, OTHER PLACEES TO MISLEAD BOARD.BOARD HAS RESOLVED TO SUSPEND DUTIES OF CAO ZHONG AS EXECUTIVE DIRECTOR.BOARD INSTRUCTED CO'S LEGAL ADVISORS TO COMMENCE LEGAL ACTION AGAINST INDIVIDUALS & PLACEES.
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March 4 (Reuters) - FDG Electric Vehicles Ltd <0729.HK>::ON 2 MARCH CO GOT LETTER FROM LEGAL ADVISERS FOR JINGANG GROUP INVESTMENT ON ORDER THAT CO BE WOUND UP BY COURT.CLARIFIES CO DOES NOT OWE ANY MONEY TO PETITIONER & PETITION WAS NOT MADE ON INSOLVENCY GROUND.WILL DEFEND PETITION.BOARD UNCERTAIN WHETHER PETITION WAS DULY FILED WITH AND/OR APPROVED BY COURT FOR ISSUE TO CO.TRADING IN SHARES WILL RESUME AT 9:00 A.M. ON 5 MARCH 2020.INTENDS TO APPLY TO COURT FOR VALIDATION ORDER TO VALIDATE ISSUE OF RIGHTS SHARES.
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Feb 28 (Reuters) - FDG Electric Vehicles Ltd <0729.HK>::CONSTRUCTION WORK PREVIOUSLY ENTERED INTO CONSTRUCTION AGREEMENT WITH FEDERAL EXPRESS CORP, HAS NOW COMMENCED IN H12020.UPDATES ON UNIT, FEDEX DEAL TO CONSTRUCT CHARGING INFRASTRUCTURE FOR EVS AT FEDEX STATIONS IN CALIFORNIA, US FOR $27 MILLION FEE.
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Feb 17 (Reuters) - FDG Electric Vehicles Ltd <0729.HK>::CO NOTES THAT A PLACEE OF PLACING MISREPRESENTED TO COMPANY THAT IT WAS NOT A SHAREHOLDER OF CO AT TIME OF PLACING.INVESTIGATION INITIATED BY CO REVEALS PLACEE OWNED SHARES IN CO PRIOR TO COMPLETION OF PLACING.BOARD IS SEEKING ADVICE ON POSSIBLE INSIDER DEALINGS.
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Nov 21 (Reuters) - FDG Electric Vehicles Ltd <0729.HK>::ANNOUNCES SETTLEMENT DEED UNDER WHICH PARTIES THERETO AGREE TO DISCONTINUE HONG KONG PROCEEDINGS.UPON SETTLEMENT OF INVESTIGATION COSTS, CO'S OBLIGATIONS UNDER CONVERTIBLE BONDS OF ABOUT HK$760.8 MILLION TO BE FULLY DISCHARGED.ONE-OFF GAIN OF ABOUT HK$759.8 MILLION TO BE RECOGNISED IN CONSOL P&L STATEMENT FOR YEAR ENDING 31 MARCH 2020.
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